Elevation Financial Group Acquires in Texas
Elevation Financial Group announced the acquisition by Elevation Real Property Fund VIII of Reunion Court of Kingwood in Houston, Texas. The asset was acquired for $7.25 million, or $38,000 per unit. Built in 2000, Reunion Court of Kingwood comprises 120 independent living, 42 assisted living and 28 memory care units. Elevation will repurpose the independent living building into senior apartments and the community will be rebranded as King’s Preserve at Kingwood. The capital expenditure plan includes a new secured access and camera system, repairs to HVAC systems, sidewalk and parking lot improvements and fresh paint. The previous owner, a large private equity group, infused a... Read More »
Tremper Capital Group Secures Competitive Bank Loan
One of the takeaways from the NIC Spring Conference earlier this month was that more lenders seemed willing to jump back into the market, possibly offering more competitive terms to get deals, as well. Tremper Capital Group has seen that first hand with one of its latest financings. The borrower was Focus Healthcare Partners, looking to finance its acquisition of Cedarhurst of Woodland Hills in Tulsa, Oklahoma. Originally built in 2016 as an active adult community by Avenida Partners and Carlyle Group, Woodland Hills features 140 independent living units and has been rebranded as The Cedars at Woodland Hills, with 12 Oaks brought in to manage it. Occupancy was in the low-90s, and it... Read More »
Family-Owned Company Acquires in Texas
Matthew Alley and Brad Goodsell of Senior Living Investment Brokerage were engaged by a local partnership in its divestment of its only seniors housing asset. The buyer was a local family-owned company that intends to take advantage of the strong cash flow of the building. The community, which is in Plano, Texas, was acquired for $3.7 million, or $142,000 per unit. Built in 2016, Bader House Memory Care sits on 2.9 acres with 12,323 square feet and features 26 memory care units with room for expansion. The community was 92% occupied at the time of the sale. It was making $1.86 million in revenues and $397,000 of EBITDAR, and sold for a cap rate of 10.7%. Read More »
California Investor Secures Three Separate Financings
Berkadia Seniors Housing & Healthcare announced the closure of $26 million in bridge-to-HUD loans across three transactions for an El Segundo, California-based sponsor. Jay Healy and Andrew Lanzaro closed the loans on behalf of the repeat client. Berkadia anticipates closing all three subsequent HUD refinancings in the second half of 2025. The first transaction involved a $6 million bridge-to-HUD loan to facilitate the acquisition of a 48-bed memory care community in Jackson County, Oregon, for a joint venture between the sponsor and a Medford, Oregon-based operator that has managed the community since 2022. Constructed in 2016, the community had a 90% occupancy rate at closing with... Read More »
Vacant Texas AL/SNF Community Trades Hands
Amy Sitzman and Giancarlo Riso of Blueprint were engaged by a repeat client in the divestment of its vacant senior care community in Waco, Texas. Last operated in 2018, the community closed due to the prior operator’s inability to service above-market rent payments. Built in 2015, the community comprises 106 assisted living units and skilled nursing beds and was well maintained by ownership. It sits on 6.7 acres, directly adjacent to Baylor Scott & White Medical Center – Hillcrest, the leading acute care provider in Waco. Blueprint advised the seller to move forward with a highly competitive all-cash offer that was submitted by a leading provider of transitional skilled... Read More »Schedule a demo
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